HeliosAltas and Rampinelli sign deal for Helios PowerWheel development

13 June 2016

HeliosAltas Corporation (HA) is launching the deployment of it's Helios PowerWheel in Italy with the assistance of Rampinelli S.p.A.

The firms have signed a MoU which will see them form a cooperative venture for the purposes of developing projects, support servicing and selling the PowerWheel.

In a statement the firms said they plan to explore the establishment of a suitable assembly and/or manufacturing facilities in Italy and other locations in Europe to more efficiently and cost effectively supply the demand for products in Europe.

"The European market has channelized water throughout the continent, so it is an ideal location to deploy the PowerWheel in series to create a Hydro-Farm to provide consistent renewable energy," said Michael Carroll, HeliosAltas CEO.

"With the Paris Climate Conference establishing the overwhelming support of Clean Energy Technologies, such as the PowerWheel, now is the time to put such technology to use, " added Gabriele Rampinelli, Rampinelli S.p.A. COO. "The micro-hydro is also the fastest growing hydro power segment, and the Power Wheel is positioned to bring a technological breakthrough in this industry."

The scope of cooperation under this MOU consists of joint efforts to evaluate and ascertain the Italian market and to develop commercial projects utilizing the PowerWheel technology.

The installation, operation and obtaining long term Power Purchase Agreements utilizing these initial units may also be undertaken under this agreement.

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